Why do people claim cryptocurrencies aren’t an asset?

[Mauser]

Those that said cryptocurrencies is not an asset are those countries that failed to legalized cryptocurrencies in their country because they have no idea on cryptocurrencies. Asset is anything that can give you income after the transaction.
In my country cryptocurrency is well legalized,many people is using cryptocurrencies as an asset for them to do business and  make a good profit from it.

I agree and in general I would argue that most of the people who don't own crypto currencies will say its not an asset. Because they either don't understand it or are afraid of it. All the people who actually own crypto currencies will argue that it's an asset. The legal framework in most countries is being set by fairly old politicians. Where the understanding of the crypto world is limited.

[(o)(o)ilikeboobs(o)(o)]

Cryptocurrency needs to be considered an asset because it has a cash value. Although cryptocurrencies are not regulated in our country, they do allow us to own cryptocurrencies and not to use them as a means of payment.
For projects that host public and AML / KYC binding ICOs they are real assets because they represent companies.
Although people have a debate about cryptocurrencies, only those who own them understand their value.
As the world moves in favor of cryptocurrencies, governments will have to recognize cryptocurrencies as an asset.

[Buttermellow]

It actually really confusing because its purpose is actually serve as a digital currency but this has no real value if not being paired or back up by fiat currency. Remember that by having bitcoin you should buy it using fiat currency and that determine the value of the bitcoin or any othee cryptocurrency. Now, since the data to access blockchain or where bitcoin is stored in a digital wallet preferrably the hardware wallet so it became a valuable thing and that we can consider this as an asset. Whatever it is cryptocurrency is cryptocurrency and thats it.

[darewaller]

Those that said cryptocurrencies is not an asset are those countries that failed to legalized cryptocurrencies in their country because they have no idea on cryptocurrencies. Asset is anything that can give you income after the transaction.
In my country cryptocurrency is well legalized,many people is using cryptocurrencies as an asset for them to do business and  make a good profit from it.

I agree and in general I would argue that most of the people who don't own crypto currencies will say its not an asset. Because they either don't understand it or are afraid of it. All the people who actually own crypto currencies will argue that it's an asset. The legal framework in most countries is being set by fairly old politicians. Where the understanding of the crypto world is limited.

The understanding is limited and because bitcoins are being used in a lot of activities so often people get confused as a currency but it is just an advanced version of the barter system where you give the person something they need for something you need in return. Now because bitcoins can be sold and bought at any approved exchange a lot of confusion surrounds if Bitcoins are true assets or a currency. I believe Bitcoin can be classified as a unique asset that has the liquidity and structure to be used as a payment option as well.

Bitcoins is still new to a lot of investors and in some countries the awareness about crypto currency and how blockchain works is still very limited so often bitcoin is termed as a bubble but people often forget the power of decentralization and how well Bitcoin scales.

[CASTIEL05]

They won`t consider cryptocurrencies as asset because it is not listed to the SALN or State of Asset, Liabilities and Net Worth. Of course, they should not write it to the SALN or they will pay for the tax. Well, in my opinion either it is an asset or a coin. I consider it as asset as it gives you profits. Asset is something that gives you an income or help you to gain income. That is what an asset supposed to define. i don`t know their reason but for me, it is clear that crypto is an asset. For sure, it is liabilities to those who said that it isn`t asset, why? because they failed to make money from cryptos.

[mersal]

Because it is yet to widely accepted around the world, that is the reason why people are not considering cryptos as one of the assets but one who has the knowledge about cryptos will surely pick it as assets. Early investors make money because they are taking risks on something which doesn't have real adoption so it pays off them later which is the same calculation should be applied with crypto currencies.

[justdimin]

It actually really confusing because its purpose is actually serve as a digital currency but this has no real value if not being paired or back up by fiat currency.

But that is how all assets work, asset itself means something that has value for money or useful to someone. If an asset does not have value in fiat then it is impossible to call it asset actually because it has no worth in the market.

Remember that by having bitcoin you should buy it using fiat currency and that determine the value of the bitcoin or any othee cryptocurrency. Now, since the data to access blockchain or where bitcoin is stored in a digital wallet preferrably the hardware wallet so it became a valuable thing and that we can consider this as an asset. Whatever it is cryptocurrency is cryptocurrency and thats it.

Buying bitcoins via fiat only determines the need and that is how the price is determined. Look someone made a coin and today it is worth so much only because of adoption and people understanding the use of bitcoins in the real world. Even hackers demand payment in bitcoins which shows how robust bitcoins mechanism is and it is nearly impossible to hack or steal. These things combine and that's how a decentralized asset got it's market value in fiat.

[Assface16678]

Because it is yet to widely accepted around the world, that is the reason why people are not considering cryptos as one of the assets but one who has the knowledge about cryptos will surely pick it as assets. Early investors make money because they are taking risks on something which doesn't have real adoption so it pays off them later which is the same calculation should be applied with crypto currencies.

Somewhat true but the fact that its market value is changing from time to time is what makes it not an asset. An asset is something believed to generate profit as time passes by which makes Bitcoin close to it. But given the lack of assurance, it is more suitable being an investment. Investment has risks but it does give a tendency to generate profit as well as years goes by. Expecting its value to be bigger in the future is not enough in order to call something an asset. How its market price behave could be a greater basis.

[Tahsin Kabir Kollol]

People have different views on whether Bitcoin is actually an asset or not. Whether Bitcoin is a resource depends on proper knowledge about it and the ability to earn through it. If one has the skills and knowledge to use Bitcoin, it must be considered as an asset for him. Although the market value of Bitcoin is less stable than all other fixed assets, those who have a good idea about it can turn it into an asset by analyzing its dynamics.

[ShowOff]

People have different views on whether Bitcoin is actually an asset or not. Whether Bitcoin is a resource depends on proper knowledge about it and the ability to earn through it. If one has the skills and knowledge to use Bitcoin, it must be considered as an asset for him. Although the market value of Bitcoin is less stable than all other fixed assets, those who have a good idea about it can turn it into an asset by analyzing its dynamics.

Bitcoin is money and money is an asset. Bitcoin is a tradable crypto asset and I call it an asset because of its utility. People can still differ on how they analyze something called an asset. Maybe they say so because bitcoin has no physical form like fiat currency, gold and other.

[Fortify]

I think that bitcoin has been around long enough now to build up trust as a payment system. I think there is a distinction between non-productive and productive assets though, which might be what some people think about when investing. For example: Bitcoin is a lot like gold, in that it doesn't actively make a return beyond the value going up (or down). Whereas if you were to own a share of a company and that company pays dividends, then you can get money back on a regular basis that you might choose to spend elsewhere.

[Porfirii]

I am quite sure it is because of legal implications.

In some countries, assets may be regulated in a different way compared to money, so in those where assets have a better status than money, they prefer to claim cryptocurrencies are assets; but in those where assets have a worse status, usually because they pay more taxes, then it is logical that people from those countries claim cryptocurrencies are not assets until some law says so expressly.